Al Abdullatif widens 2021 loss to SAR 47.8 mln; Q4 at SAR 37.8 mln

31/03/2022 Argaam Exclusive

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Al Abdullatif Industrial Investment Co.’s net losses after Zakat and tax widened to SAR 47.8 million in 2021, compared to SAR 24.8 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	466.09	641.52	37.6 %
Gross Income	30.30	18.79	(38.0 %)
Operating Income	(6.61)	(26.14)	(295.4 %)
Net Income	(24.83)	(47.75)	(92.3 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.31)	(0.59)	(92.3 %)

The firm reported higher losses due to a rise in material costs and cost of sales, increased marketing and selling expenses, and fall in other income.

The company swung to a net loss after Zakat and tax of SAR 37.8 million in 2021 from a net profit after Zakat and tax of SAR 8.05 million.

Sequentially, losses deepened from SAR 10.59 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	148.33	180.34	21.6 %
Gross Income	30.33	(16.53)	(154.5 %)
Operating Income	16.67	(28.76)	(272.5 %)
Net Income	8.05	(37.81)	(569.5 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	0.10	(0.47)	(569.5 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	156.17	180.34	15.5 %
Gross Income	8.02	(16.53)	(306.0 %)
Operating Income	(6.05)	(28.76)	(375.4 %)
Net Income	(10.59)	(37.81)	(257.0 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.13)	(0.47)	(257.0 %)

Total shareholders’ equity, excluding minority interest, fell 3.2% year-on-year (YoY) to SAR 1.049 billion.

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